Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

January 04, 2011 13:11 ET

Takara Closes First Tranche of Private Placement Offering

TORONTO, ONTARIO--(Marketwire - Jan. 4, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Takara Resources Inc. (TSX VENTURE:TKK) ("Takara" or the "Company") announces that it has closed the first tranche of the non-brokered portion of the private placement offering announced on December 22, 2010, for gross proceeds of $461,250. The Company issued 1,845,000 Units at a price of $0.25 per Unit. Each Unit consisted of one Common Share of Takara and one half of one non-transferable share Purchase Warrant. Each full Purchase Warrant entitles the holder to acquire an additional Common Share at a price of $0.35 at any time within 18 months of issuance, subject to an accelerated expiry described below.

In connection with this first tranche closing, the Company paid an aggregate $13,500 in finders fees to eligible finders.

The securities comprising the Units (1,845,000 Common Shares and 922,500 Common Shares issuable upon the exercise of the Purchase Warrants) are subject to a hold period and may not be traded until May 1, 2011.

The proceeds from the sale of each Unit will be for working capital purposes and to undertake the ongoing work program on Takara's Guyana Gold Projects.

If, after May 1, 2011, the common shares of Takara trade at $0.45 or more on the TSX Venture Exchange for a minimum of 20 consecutive trading days, the Company shall have the right to give notice of early expiry of the Purchase Warrants. Early expiry shall accelerate and be automatically amended to be the 30th day after the date on which the Company gives notice to the Warrant holder of such acceleration. 

The Company anticipates closing subsequent tranches of each of the brokered and non-brokered offerings, announced on December 7, 2010 and December 22, 2010, prior to January 14, 2011. All transactions contemplated herein are subject to final approval of the TSX Venture Exchange.

ABOUT TAKARA

Takara Resources Inc. is a Canadian based (TSX VENTURE:TKK) is a gold company focused on the exploration and development of its Guyana gold assets held within a wholly-owned subsidiary, StrataGold Guyana Inc., including two gold projects within the Guyana Shield, namely: (i) the 100% owned Tassawini Gold Project; and (ii) a 29.90% interest in the Arakaka Joint Venture.

Statement Regarding Forward-Looking Information 

This news release of Takara contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Takara's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding Takara's expectations regarding ownership, entitlements, drilling and exploration activities on properties in which Takara has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Takara's expectations. Takara undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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